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Watermark Nears Sellout on First-Day Reservations of $1 Mil-Plus Planned Condos

MARCO ISLAND, FL-Buyers reserve 143 of the 148 units in the proposed fifth tower development in Cape Marco, a 30-acre residential community in Collier County, about 126 miles west of Miami. Ground-breaking on the 24-story Belize project is set for September. The units are priced from $900,000 to $8.9 million

By David R. Corder | Updated on March 02, 2001

MARCO ISLAND, FL-Watermark Communities Inc. put to rest any fears of a weakening real estate market in this Southwest Florida community with a record-setting performance during the first day of release on a proposed 24-story condominium tower in this Cape Marco residential community, about 126 miles west of Downtown Miami.

The Bonita Springs-based developer of luxury multi-family projects received reservations on 143 of 148 units in the tower, dubbed the Belize, Albert F. Moscato Jr., Watermark division president, says in a prepared statement.

Moscato did not give the value of the reservations, but based on an average $500,000 per unit, first-day sales would be an estimated $72 million.

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